INTL AL CONF: Rusal uncertainty freezes 2019 European aluminium premium negotiations

European aluminium premiums for 2019 are stagnating around spot-market levels due to the continuing uncertainty about whether US sanctions on producer UC Rusal will be lifted by late October, Metal Bulletin learned at last week’s International Aluminium Conference in Berlin.

Market participants expected higher premiums on a long-term basis, with buyers scrambling to secure supplies in case the United States government should decide not to remove its sanctions on Rusal.
But sellers told Metal Bulletin that achieving prices higher than the current spot premiums was proving difficult.
Metal Bulletin assessed the price of P1020A-grade aluminium, in-warehouse Rotterdam, duty unpaid, at a steady $85-95 per tonne Wednesday September 19. The duty-paid price for similar material was unchanged on Tuesday at $155-165 per tonne.

Long-term deals on a duty-paid...

Published

Justin Yang

September 20, 2018

09:00 GMT

London